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Geothermal Drilling Market Segmentation: Application
Based on the segmentation by application, the binary plant’s segment of the geothermal drilling market is expected to generate maximum revenue in 2019. The scope for binary power plants to generate electricity is high as most of the geothermal reserves are heated at low to moderate levels. Hence, the growth of the geothermal drilling market share for power generation by the binary plant segment will be faster than the steam plants segment.
Geothermal Drilling Market Segmentation: Geography
APAC held the largest market share of 42% in 2019 and will offer several growth opportunities to market vendors. Factors such as the rising need for electricity owing to the growing population and rapid industrialization in APAC will drive the growth of the market. Indonesia and New Zealand are the key markets for geothermal drilling for power generation in APAC.
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Geothermal Drilling Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist geothermal drilling market growth during the next five years
- Estimation of the geothermal drilling market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the geothermal drilling market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of geothermal drilling market vendors
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Major Three Geothermal Drilling Market Participants
Baker Hughes Co.
Baker Hughes Co. provides widespread in-house expertise and manufacturing capabilities, including geothermal exploration and drilling, to harness geothermal energy.
Deep Rock Manufacturing Co
Deep Rock Manufacturing Co offers geothermal rigs such as DR150 Track Rig and DR150 Sliding Top head.
Halliburton Co.
Halliburton Co. provides technology, products, and services for geothermal drillings, such as roller cone drill bits.
Related Reports on Energy Include:
Global Offshore Drilling Market- The offshore drilling market is segmented by application (shallow water, deepwater, and ultra-deepwater) and geography (North America, APAC, Europe, MEA, and South America).
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Global Land Drilling Rigs Market– The land drilling rigs market is segmented by type (conventional rigs and mobile rigs) and geography (MEA, North America, APAC, Europe, and South America).
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Available Customization:
Technavio offers customizations as per the specific needs of the companies. Along with the market data, the following customization options are available for the geothermal drilling market report.
- Further breakdown of the market segmentation in requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings
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